So, today I bought a house

ibFoxer

Hi folks,

Pretty much as the title said, four bed semi with attached garage in need of a small bit of modernisation for the princely sum of €105,000. All documents signed by both parties and monies handed to my solicitor today, he is expecting me to have the keys in my hand by Friday all going to plan. (furniture and other items have to be removed from the premises)

I do however have a couple of questions that hopefully someone here can shed some light on:

1) The house has been on the market since February, assuming that the power has been shut off since then, do i need to get an electricians cert before ESB will turn it back on, and also is there a reconnection fee for that time frame?

2) Will i be liable for property tax this year even if it has already been paid by the previous owner?

3) Should i look to install an alarmed system as quickly as possible, and does anyone have any recommendations for same?

Cheers in advance.

punisher5112

Alarm is a good idea and upgraded locks and doors/windows if in poor condition.

What part of the country?

Diane Selwyn

I paid a portion of the 2014 property tax when I bought in June (50% of the total amount or so I was told). My solicitor made the arrangements and I don't actually know if he just handed it back to the vendor who had paid the full amount for the year or if he paid it to Revenue and they reimbursed the vendor. I knew early on in the negotiations that I was going to be expected to pay it and I never questioned it but I'd be kind of curious to know now! Your solicitor they should be able to tell you anyway.

Handsandtools

foxerv1 wrote: »

Hi folks,

Pretty much as the title said, four bed semi with attached garage in need of a small bit of modernisation for the princely sum of €105,000. All documents signed by both parties and monies handed to my solicitor today, he is expecting me to have the keys in my hand by Friday all going to plan. (furniture and other items have to be removed from the premises)

I do however have a couple of questions that hopefully someone here can shed some light on:

1) The house has been on the market since February, assuming that the power has been shut off since then, do i need to get an electricians cert before ESB will turn it back on, and also is there a reconnection fee for that time frame?

2) Will i be liable for property tax this year even if it has already been paid by the previous owner?

3) Should i look to install an alarmed system as quickly as possible, and does anyone have any recommendations for same?

Cheers in advance.

If previous owner already pay, than You don't have to pay again property tax.
I don't think that power has been shut off, depends on situation.?

Tigger

Happy new house

ibFoxer

Diane Selwyn wrote: »

I paid a portion of the 2014 property tax when I bought in June (50% of the total amount or so I was told). My solicitor made the arrangements and I don't actually know if he just handed it back to the vendor who had paid the full amount for the year or if he paid it to Revenue and they reimbursed the vendor. I knew early on in the negotiations that I was going to be expected to pay it and I never questioned it but I'd be kind of curious to know now! Your solicitor they should be able to tell you anyway.

Hasn't been mentioned and i forgot to bring it up. I must ask tomorrow.

ibFoxer

Tigger wrote: »

Happy new house

Thanks. Both thrilled and terrified

L1011

Its unlikely power has been switched off, hopefully you can just call your preferred supplier with the MPRN and mater reading and you're away.

Your solicitor should have ensured the property tax was paid. The split above was the seller pulling a fast one.

Arbiter of Good Taste

Handsandtools wrote: »

If previous owner already pay, than You don't have to pay again property tax.
I don't think that power has been shut off, depends on situation.?

The law society does not agree.

Technically, the liable person is whoever owns on a specified date, but standard practice is for the buyer to pay to the seller a portion on the basis of period of ownership

It sucks, but that's how it happens. I wouldn't bother possibly holding up closing for the sake of a few hundred euro

leeroybrown

foxerv1 wrote: »

1) The house has been on the market since February, assuming that the power has been shut off since then, do i need to get an electricians cert before ESB will turn it back on, and also is there a reconnection fee for that time frame?

Ring up with your MPRN and you'll be told how long it's been disconnected for. If it's less than six months it'll be €70 + VAT. If it's between six and 24 months you'll need a registered electrical contractor to check and certify the wiring before you reconnect. In the very very unlikely event it's over 24 months sit down and make a cup of tea before asking how much.

the_syco

If it has been rented in the past, get the locks changed. All you really need are the barrels changed, and you can do this yourself easily enough.

ibFoxer

the_syco wrote: »

If it has been rented in the past, get the locks changed. All you really need are the barrels changed, and you can do this yourself easily enough.

Oh yeah, that's the very first port of call. Herself wouldn't have it any other way, I'd be very inclined to agree.

ibFoxer

leeroybrown wrote: »

Ring up with your MPRN and you'll be told how long it's been disconnected for. If it's less than six months it'll be €70 + VAT. If it's between six and 24 months you'll need a registered electrical contractor to check and certify the wiring before you reconnect. In the very very unlikely event it's over 24 months sit down and make a cup of tea before asking how much.

It's definitely not been over two years so that's not bad, iv an electrician friend who offered to do a cert if needed so at least that's that.

Good bit of work to do and I'm currently renting at twice the mortgage repayments so I'd be eager to get going on the works and not be left in a position of having to pay rent and a mortgage for a month or two, so hopefully it won't take too long to get disconnected. If course the previous owner could have just pulled the fuse which would be nice.

leeroybrown

foxerv1 wrote: »

It's definitely not been over two years so that's not bad, iv an electrician friend who offered to do a cert if needed so at least that's that.

I just mentioned the 24 month issue as it's come up a few times previously where people got a shock when their recent purchase required a full reconnection the power network at considerable cost.

Diane Selwyn

Arbiter of Good Taste wrote: »

The law society does not agree.

Technically, the liable person is whoever owns on a specified date, but standard practice is for the buyer to pay to the seller a portion on the basis of period of ownership

It sucks, but that's how it happens. I wouldn't bother possibly holding up closing for the sake of a few hundred euro

That's interesting - according to the Revenue the person who owned the property on 1 Nov 2013 is liable for the tax in 2014 but I've no idea what the Law Society's stance is on it - maybe it depends on who your solicitor is then?

As you say (and even if it was pretty cheeky of them to ask for it) I probably wouldn't have bothered delaying the sale any longer by protesting it anyway.

http://www.revenue.ie/en/tax/lpt/sale-transfer-property.html

Arbiter of Good Taste

Diane Selwyn wrote: »

That's interesting - according to the Revenue the person who owned the property on 1 Nov 2013 is liable for the tax in 2014 but I've no idea what the Law Society's stance is on it - maybe it depends on who your solicitor is then?

As you say (and even if it was pretty cheeky of them to ask for it) I probably wouldn't have bothered delaying the sale any longer by protesting it anyway.

http://www.revenue.ie/en/tax/lpt/sale-transfer-property.html

I agree, and my view is that the Revenue guidelines are very clear - whoever owned on the specific date is liable. Unfortunately the Law Society guidelines - I can't find them now - recommend splitting. To me it was quite galling considering the legislation was clear. Also, the vendor is getting hundreds of thousands of euros already.....

handlemaster

Congrats and welcome to the money pit

ibFoxer

handlemaster wrote: »

Congrats and welcome to the money pit

Well someone has to buy something eventually, might as well be me :P

But seriously, timing was right, mortgage is small, made sense.